By choice, mind you. The CFA franc was introduced during colonial times, but after their independence, countries have the option to keep it or get their own currency. Some introduced their own currency. Others, that had never been French colonies, adopted the CFA franc.
It is absolutely a remnant of colonialism, but countries are free to adopt it or not.
I mean, the CFA franc is one part of the system. governments can willingly become a part of a system that’s exploitative when they see some advantage. Usually it’s the people on the receiving end of shock therapy that get the negative consequences while a minority cash out.
a third of African countries have a monetary policy run out of EU right now; CFA Franc is used by like 200 million people.
By choice, mind you. The CFA franc was introduced during colonial times, but after their independence, countries have the option to keep it or get their own currency. Some introduced their own currency. Others, that had never been French colonies, adopted the CFA franc.
It is absolutely a remnant of colonialism, but countries are free to adopt it or not.
We’re not talking about the CFA franc; we’re talking about neocolonialism, about World Bank and IMF debt traps and imposed neoliberal shock therapies.
Who is “we”? Diva mentioned the CFA franc, and I responded to that. That’s what we’re talking about.
But your criticism of the IMF and World Bank is justified.
I mean, the CFA franc is one part of the system. governments can willingly become a part of a system that’s exploitative when they see some advantage. Usually it’s the people on the receiving end of shock therapy that get the negative consequences while a minority cash out.
So its still colonialism, and you’re doing the IMAX